“External engagements” is the topic for the fifth of an expected 12 “requests for information” issued Wednesday by the Consumer Financial Protection Bureau (CFPB), focusing on ways the bureau engages and receives feedback from the […]
A specific “lease security account” qualifies for pass-through share insurance coverage based on credit union membership of a landlord or account holder, a legal opinion letter from the federal credit union regulator states. However, the […]
A 60-day comment period will start as early as Wednesday on proposed swap margin requirements to conform with recent rule changes imposing new restrictions on certain qualified financial contracts (QFCs) of systemically important banking organizations, […]
Personal cease-and-desist orders against three persons at two banks, one in Nebraska the other in Oklahoma, were levied by the Office of the Comptroller of the Currency (OCC) in January, the regulator announced; three civil […]
A former Barclays Bank employee would be barred for life from banking industry employment and assessed a nearly half-million-dollar fine for using electronic chat rooms to influence foreign exchange pricing benchmarks under a notice filed […]
The “living wills” process for resolving the largest U.S. financial institutions has proven “enormously helpful” to both firms and regulators, but there is more work to be done in four particular areas to improve the […]
Posting losses of $1.1 billion, but which were absorbed by premium assessments on insured banks, the Federal Deposit Insurance Corp. (FDIC) Deposit Insurance Fund (DIF) finished fiscal year 2017 with a reserve ratio of 1.28% […]
References to “external credit ratings” related to permissible investment activities and pledging of assets have been removed from international banking regulations by the federal deposit insurer and replaced with “appropriate standards of creditworthiness.” In a […]
A $14,000 fine for violations of flood insurance requirements has been levied against a West Virginia bank by the Federal Reserve. Clear Mountain Bank of Bruceton Mills, W. Va., (assets: $581 million) was assessed the […]
A $735.7 million “distribution” will be paid to federally insured credit unions, likely during the second half of the year, the result of a dividend from the federal insurance fund that insures savings in the […]
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